Category: Market Segment

Trump threatens EU with 50% tariff starting June 1.

The CFIUS report is in, but what it contains remains unknown.

Cleveland-Cliffs opened its June order book for spot material at $910 per short ton (st).

After recently receiving an industry honor on behalf of Ternium, I had the opportunity to reflect and share my vision on the state and future of our industry.

Nippon Steel could build a new domestic U.S. Steel mill with a total investment of $4 billion.

Nucor has lowered its consumer spot price by $20 per short ton, marking the third consecutive weekly decrease.

International trade remains at the forefront of President Trump’s agenda, especially as new negotiations and investigations continue to be announced.

Commerce began a review of five producers/exporters: NLMK Verona; Officine Technosider; F.A.R. Fonderie Acciaierie; Ferriera Valsider and Metinvest Trametal.

The period under review is Jan. 1, 2022, through Dec. 31, 2022.

The budget proposal has big implications for steel and manufacturing.

The US Commerce Department has provided the final results for the countervailing administrative review of certain corrosion-resistant steel products (CORE) from South Korea.

Nucor said it temporarily and proactively halted some production operations at various locations.

CRU Group revised down its forecast for North American auto production by about 800,000 to 14.7 million this year.

Ford Motor Co. started a planned outage early at its Chicago assembly plant due to a supply chain issue.

The UK deal may signal relaxation of the heaviest tariffs. The suspension of the reciprocal tariffs greater than 10% - remember, 57 countries were hit with that - ends on July 9. But it could be extended. If more deals like the one with the UK are struck, the suspensions may continue to permit more agreements - relieving global markets of considerable worry.

The recently announced US tariffs on vehicles and key components from all markets are expected to significantly disrupt global production.

The Mexican government aims to transform Manzanillo into the largest seaport in Latin America, capable of processing some 10 million TEU (20-foot equivalent units) per year by 2030. It is already Mexico's largest port and the third largest in Latin America, handling nearly 4 million 20-foot containers in 2024.

The future of two projects supported in part by funding through the Department of Energy remains uncertain.

The US and UK governments have announced a trade deal in which an “alternative” to the Section 232 steel and aluminum tariffs will be provided.

Meanwhile, its Canadian operations have been hurt by the broader tariffs proposed by the United States.

Germany’s Klöckner & Co. reported a narrower loss in the first quarter as the company targets becoming the “leading” service center and metal processing firm in North America and Europe by 2030.

Cleveland-Cliffs Inc. gushed red ink in the first quarter, and pledged to stem the bleeding by idling inefficient, “loss-making operations” and increasing focus on its core automotive business.

Maximo Vedoya was awarded in recognition of Ternium’s expansion project in Pesquería, Mexico, and Ternium’s efforts to decarbonize steelmaking.

Russel Metals’ earnings slipped in the first quarter, but the company is still eyeing service center acquisitions in the US.

Mercedes-Benz is planning to move production of a “core segment vehicle” to Tuscaloosa, Ala., by 2027.

US Sen. Jim Banks (R-Ohio) and Rep. Frank Mrvan (D-Ind.) have written a letter in support of a “domestically owned and operated American steel industry” being vital to national security.

Baosteel exec comments on market rumors of 50 million tons of output being cut this year, less than 0.5% of the 1 billion tons-plus China has produced annually in recent years.

Olympic Steel’s earnings slid in the first quarter as the steel industry faced a “challenging” economic conditions.

Olympic Steel elected Peter J. Scott to its board of directors at its annual meeting on May 2. At the same time, long-time director Michael G. Rippey has retired from the board after 10 years.

The tariffs are intended to produce more investment and jobs in US manufacturing. But first, there will be a cosmic change, potentially wiping out millions of jobs in the short run. While administration officials will no doubt cringe at the comparison, it reminds me of the effort to undercut fossil fuels production to address climate change. Led by Democrats, the effort was to destroy fossil fuels so that renewable energy sources would have more space to grow. The result: inflation and electoral defeat in 2024.